Elon Musk’s Shocking Claim About Former FTX CEO: Where Did $1 Billion Go?

Tesla CEO and Twitter owner Elon Musk stated that former FTX CEO Sam Bankman-Fried gave much more support to the Democratic Party in the US than announced in official records.

Implying that the $40 million in the records is just the face figure, Musk claimed that Bankman-Fried donated more than $1 billion to Democrats. While many users accused Musk of making accusations without providing proof, some users reacted to Bankman-Fried and supported Musk.

The transfer of a large amount of $1 billion to the Democrats by a crypto billionaire led to accusations of black money.

WHERE DID THE MONEY GO?

One Twitter user pointed out that Bankman-Fried’s $40 million donation to avoid jail time after stealing more than $10 billion was one of the highest ROI transactions of all time.

In his response to this user, Musk, the world’s richest person, pointed out that Bankman-Fried’s actual electoral support for the Democratic Party was in excess of $1 billion and claimed that $40 billion was just the publicly disclosed figure. Musk: “The money went somewhere, so where did it go?” he said he.

THE SECOND LARGEST DONATION

Bankman-Fried was the second-biggest donor to the Democratic Party after famed billionaire George Soros in the 2021-2022 election period. According to the nonprofit organization Opensecrets, FTX donated $39,884,256 to Democrats before filing for bankruptcy.

In the US, donations to political campaigns must be transparent. If Musk’s claims are true, this means that Bankman-Fried, who is known to have made large donations to Joe Biden’s election campaign, and the Democrats committed federal crimes.

It is estimated that nearly a million clients and investors have lost billions of dollars so far in the FTX crash. The company is currently under investigation for misuse of client funds.